About your Search

20130801
20130831
STATION
CNBC 22
LANGUAGE
English 22
Search Results 0 to 21 of about 22
.m. on wall street. welcome back to the "closing be bell." the likelihood of u.s. strikes in syria over wall street. s&p 500 wrapping up the worst month since may of last year with some selling into the close. we're down by 37 points. >> here's how we're finishing the day out. another down day to close out the down month, dow jones down 37%. interesting some traders might want to go into the long weekend with the possibility of a strike against syria with some money in this market but we'll see what happens. nasdaq's down 30 points. s&p down 5.5. an ugly month for stocks as the threat of military action in syria hangs over the nation and this market, bob pisani. >> what was interesting, i think we should put up president obama's key statement here today because the president and secretary of state john kerry also spoke today. president obama came out and said, we have not made a final decision on actions that will be taken. that's the key point here. he also made it clear that it will not involve -- any action taken will not involve any boots on the ground. i think that's the major headline
, though, a downer for the broad market. bob pisani, put things in perspective for us today on the heels of what has been a record setter for this market. >> reporter: the big story is the constant commentary from the fed officials here. let's take a look at that, because that will determine what happens in the next couple of months. the bottom line is the fed hawks and fed doves seem to be aligning, and the concept is tapering is imminent. if not in september, certainly by december. unless the data completely falls apart. the head of the cleveland head came out today, not a voting member, but she said she is prepared to scale back bond buying if the labor market improves. she is considered to be a moderate. all of them are saying essentially the same thing at this point. look at the dow. almost went positive late in the day. not quite. the bottom line is, the bond market -- the stock market and the bond market, neither one of them, are particularly falling apart as we've had this chorus of fed officials -- doves, moderates, and hawks -- all come out and say the tapering is imminent. loo
. >> okay. alan valdez thanks for joining us. that's a look at the first hour. let's get to a full second hour as we make sense of this day and look ahead to the next couple of days on the second hour of the "closing bell". >>> it is the 4:00 hour on wall street. we welcome to you the second hour of the closing bill i'm bill griffeth along with michelle caruso-cabrera who is in for maria bartiromo. stocks snap that two day losing streak despite concerns about syria. >> the dow jones industrial average higher by 50 points. >> dow on course for its worst month in over a year bob pisani. any more? >> we were down 3% on the s&p 500. let's put up the dow jones industrial average. not today. not because we had any positive news we just didn't have much news. we didn't have a lot of headlines around syria. let's call it a relief rally. put up the full screen. did droop a little bit. lack of headlines for syria is what was lifting the stock market today overall. we've seen a gap between secretary of state's announcement a couple of days ago and actually action and today that worked to everybody'
and what's happening there. joining us now to help break down the action on the markets is heather hughs. greg from the economy. dennis guardman from the guardman letter. welcome. >> welcome, folks. >> dennis, what did we learn on the market today? >> i'm not sure what we learned today given that oil prices collapsed. brent losing to wti, that's important. >> all of those either divergeant or convergent and quite honestly, i'm confused. >> i'm with you, dennis. you are the great fed watcher. >> a strong 2.5%. job claims are down. and bond yields go down, not up, as you would think they would if they are thinking the fed tapering is coming soon and dollar going higher today. >> you know, gdp data is not as strong as headline suggested. most of the contribution was from exports an inventories. hard to see exports making big contribution given the slowing you see in emergency markets. i think that's more important to the fed than gdp numbers? >> heather, i hope have you answers for us. >> no. greg is the econ con mist. >> do you get calls saying, what's going on with my money? >> yeah, righ
,700 level for the third day in a row and nasdaq helped by apple. starting the week in the red. joining us for more, we begin with the market panel, paul from heritage capital, doug from riverfront investment group, kenny from o'neil securities, who's just finishing up trading and will join us shortly. guys, welcome. paul, let's kick off with you. we're looking at the start -- negative start, down about 46 points in the dow. how worried are you? >> i'm not worried. i mean, listen, the market's had a great run. last week, a great run since june 24th. even if you went down 1%, 2%, 3%, i think it's just a tiny little dip. it's barely a rounding error. and the markets, to me, are clearly headed higher in the short term. >> doug, you buying into this weakness, as well? >> yeah, i think we are buying into this weakness. we also are finding that the u.s. has had a really great run, and, you know, the whole point of making your most money when reality and expectations are in disalignment, that's not the case right now in the u.s. things are good and people recognize that. i think the real opportun
securities, and also weighing on the market, the airlines got slammed. u.s. air down about 13%, as the doj decided to block the u.s. air/united merger. the big question here, they didn't block the other two mergers. why did they block this one? guys, it has people down here really scratching their heads. back to you. >> all right, thank you so much, bob. the news cycle definitely keeping us busy this august. it doesn't always do that. >> no, it does not. >> we're thankful for that. we want to talk more markets. another big story of the day, and joining us to break down the day, jeff from russell investment, mike from yahoo! finance and our own rick santelli. jeff, i want to start with you. we've seen the s&p 500 sort of creep higher, melt higher, if you will. the volatility is also falling. but everyone keeps saying volatility will be the breakout in the next couple of months. what are you looking for on the vix and what are you seeing in the world of volatility? >> i don't think we have a straight vix forecast, but i would say that we think that there are going to be fits and starts as fa
the discussion. joining us is ralph from altera, ryan, rick, and, guys, thank you for joining us. al, i want to start with you to get the fundamentals going. are you buying into this market? >> the short answer is, yes. in the ridgeworth allocation strategy, i'm looking for favorable entry points into attractively valued assets. going back to some of the comments made earlier, i like what i'm seeing overseas, particularly in europe and our international people like germany in particular. so the latest trade that i've been doing is to add to the international space. >> my old friend and mentor, ralph, you've been the super bowl for a long time. the last time you were with us, though, you were starting to get nervous in the short term on this market. are you still? >> well, bill, we lost about 750 points in the first couple of weeks of august. we're oversold. the traders have a good time with this rally, investors sell into it. >> so you'd still sell? let me -- like i'm going to tell the master about this, but i ask the guys to build me a year-to-date chart of the dow, year-to-date. what i'm s
's check in with dominik chu on what happened today. when will we hear from the nasdaq. dom, walk us through what happened today. >> let's get up to speed on the latest update around 3:41 eastern time. nasdaq said all operations were back to normal. we head into the "closing bell" with things at least relatively stable. at least that's the initial impression. earlier today, let's get you up to speed on what happened. as early as 12 or even before noon today we started to hear stories of trading anomalies around 12:20 they started to shut done stocks for trading p. this is taped c securities, one thing you might read about in the papers, going forward into tomorrow. nasdaq listed security here in the u.s. there was a problem with the pricing engine. they weren't able to get good date why out on prices so it affected the entire market. none of those nasdaq listed securities could trade. later on in the afternoon, we heard the nasdaq was going to try to restart things. this time they are going to restart things with 15-minute window where all they were going to do is aggregate and show
is a discounting mechanism. take a look. what turned us around this week? it was the number numbers, the china pmi numbers that were better than expected. we're starting to get a little bit more of the global support and that's what's started to turn us around a bit. i think that's what gives some people confidence that we're going to see gradual recovery. >> listen. i hear you. we're already up 2% year to date. we're up 20% already. i think my sense of the market just feels like it's a little bit ahead of itself. so when i talk about this pullback, that's what i mean. >> ralph, jump in here. >> stephanie's right. >> i think this is the exact sentiment that makes you more bullish. >> absolutely. stephanie said something that was absolutely correct. the market is a discounting function. we're at all-time new highs. what is the market saying? the market is saying the future's going to be better, brighter. come on, guys. it doesn't get much better than this. >> leave it there. we're going to watch it. ralph acampora, kenny polcari and stephanie link with us. mousafa have i pronounced it correctetly?
. we do think the u.s. will be in a bit of a holding pattern due to upcoming taper. but on a relative valuation basis, we do like europe a little bit better as that area seems to be turning around, and we really like emerging markets due to the deep valuation discount. >> it's interesting you say that, because the money has been flowing consistently out of emerging markets, because the growth levels certainly reversed course there. you think that's going to come back soon? >> yeah, we do. they still have relatively speaking much higher growth than the u.s. look, if you expect a little bit of recovery in the u.s. and europe, that's going to help emerging markets quite a bit. >> all right. let me ask you the same question, jim lacamp, in terms of emerging markets versus u.s., where are you? >> i don't like the emerging markets at all right now. they're suffering from the currency wars. so if you believe, as i do, that japan is going to keep printing money, the united states is going to keep printing money, and europe steps it back up once the german election is over, then those emerging
the traders make their way past us. thank you. 15 seconds left with the dow down 4 points. looks like we will finish slightly lower. we have a lot to cover here. who could buy blackberry? what is the futuristic transportation system elon musk has up his sleeve? we'll find out on the second hour of the "closing bell." >>> it's 4:00 p.m. on wall street. welcome to the "closing bell." i'm kelly evans in today for maria bartiromo. bill will be joining us in a second. >>> the stocks are struggling to find direction today. here's how we're finishing the day. it looks like a down day for the dow and s&p 500. we're still waiting for things to settle out. the nasdaq, though, managing perhaps a small positive here, helped by the performance of tesla and apple, to some extent, i'm sorry, not tesla, but by apple to some extent. we'll keep an eye on the components of that index, as well. we've come off a week where just 10 days ago, we were at record highs, the dow jones industrials average, and now, bill, about 250 points shy of that level. still, though, only a couple of percentage points i
, that 10-year intra-day. tell us what the value is? nobody knows that. the next big event, i was talking to the traders, jackson hall, august 24th. they are so desperate for any guidance in where this ten year ought to be that people are now tuneing into whoever is going to that vent. >> joining me now to help break down the day, heather hughes, rob morgan from full crum securities. allen gayle from ridgeworth and rick santelli. to what would you attribute such negativity? >> in the ridgeworth strategy, i'm always looking for tracking entry points in reasonably valued assets that have improving macrobackgrounds. i think the information we got on the macro front is encourage. so when i see a sell-off like we got today, i would view it as an opportunity to add positions in equity. i'm more inclined to add on the international front. >> we want to get to dell earnings. dell is out right now. john has the numbers. what can you tell us, john? >> not too bad, maria, based on what wall street was looking for, dow's revenue comes in $14.5 versus an expectation of 14.18 earnings per share. non-da
. eamon who was in the room joining us. eamon, give me your takeaway of the president's press conference, we'll get back to eamon. greg, you heard the president talk a moment ago. what is your main takeaway? >> he didn't say anything about the fed, maria. he didn't indicate there's a compromise coming in the fall on the budget. two big things. he listened to the squawking from the u.s. allies and many democrats over government eavesdropping. the other thing that stood out to me was how passionate he was about his health reform bill. anybody who thinks obamacare may not start on october 1, i think, is mistaken. >> okay. amy walter, the political report, your thoughts? >> i think one of the big takeaways is going to be on healthcare. look, where democrats really struggled in 2010 and quite frankly in 2012 is they were on defense. they were on their heels when it came to defending the law. where the president has gone, though, he tried to talk a little about policy, but where he spent a lot of his time was on attacking republicans. it does seem like we're going to be back where we were in 2
of a problem overall. however, i would point out that the u.s. has seen stock weakness while we have seen strength in europe as well as strength in emerging markets. look at the global markets for the month of august. u.s. has usually been a leader for the several month, but now is a laggard. brazil, germany, china, all notably outperforming the u.s. emerging markets have had a terrible first half of the year. china's strength is sucking in some commodity stocks. they have been big performers on the plus side this month. so steel and coal and copper stocks -- these are exchange-traded funds -- all have been to the upside. what are higher rates doing to the stock market? they're killing the homebuilders. taylor more son recently went public, had the earnings out. orders below expectations. they're a high-end builder. they said higher rates didn't hurt them. but the orders were not as strong as they thought. you can see that stock is down 8%. taken all of the builders with it. the etf for homebuilders is at a low for the year. this is a loss-momentum group. department stores, a tough day. m
's been a high level of complacency with the vix very low. and the u.s. outperforming the world for months and months, and that will continue, because the economic numbers are still pretty good overall. the trade deficit, narrower than expected. that's a beat. the other day, ism services, nonfarm payroll, the only real outlier we've had so far in the july economic numbers. individual sectors today, retail stocks were very noticeable, because certain stocks were up and certain were down here. michael kors and fossil had great commentary on the rest of the year. you'll notice the companies, the same thing they have in common, accessories -- boots and jewelry, all doing well. look at teen retailers, american eagle, very negative guidance, and it weighed on that particular sector. a great interview with ashton kutcher and looking forward to the second half of that this afternoon. >> oh, thank you so much, bob. we'll talk about the movie, "jobs." joining us now to break it down, amy wu, david from hightower and michael and gordon, just finishing up the trading and gordon will join us in a momen
about the markets. joining us now is our guest panel. rick santelli who loves to jump in on every single topic. let's start with you. you're the lucky one next to me, right? >> yes. >> the private bank. >> yes. >> what are you saying to the private bank clients right now about the markets? >> well, actually, we still like equities. we still think that the market is fairly priced. it's not cheap like it was a number of months. valuations are reasonable. we think on a relative basis -- >> after the pullback over the course of august things have come back to what you think is a fair price? >> off 3%, 3.5% from the highs. even after june after the initial taper conversation, we were down about 9%. there's still actually relative to fixed income, relative to cash, closer to asset classes, we think a reasonable place to put money to work although volatility picks up in the fall with september and the news stories, the fed meeting. the german elections. >> a lot to digest. >> rick, ben willis called this the war trade today as we saw the flight to gold may be a little bit of a dip in the 10-yea
and housing. that's the sweet spot for us. we have better data and a fed that will taper but not tighten. i think when these are going higher, i'm keeping a closer eye on september. there is a lot of event rest going up. >> what is the event rest? >> where do you start? possibly fed nomination. big fmoc meeting where there will probably be tapering starting. a major german election at end of continuing resolution so possibly showdown in position. there is a lot of possible events in a very short timeframe. if we keep melting up in august, i wouldn't be shocked to see profit taking as we get int int that event risk period. >> let me get your take, rick santelli on what rick is talking about here. today the macro said that things are good with the ism data. is good news, good news? is bad news, bad news? >> talking about which is which to me is like a dog chasing its tail. i don't care about that. here is what i care about. 271 on ten-year. we are four basis is points away from fresh two-year high yield close. only thing standing in our way is settlement on the 5th at 2.74. we closed at 257 y
. >> thank you so much. breaking news on sac capital. kate, what can you tell us? >> maria, we just received word that an administrative law judge ruled in favor of request by the u.s. tone for southern district in manhattan to stay civil proceedings goens steven cohen, founder of sac capital. sec two weeks or so, rather almost three weeks, filed suit against stephen cohen saying he failed to super advise his own employees as they engage in pattern known as security fraud, among other charges. today was the deadline by which cohen was supposed to respond to sec charges and we were told he would deny the substance of every charge. instead, however, u.s. attorney for southern district in money manhattan intervened asking that the civil proceedings be halted while his own case, his own criminal indictment, of sac the firm, proceed. essentially a judge granted that request and has denied a related sac request to see document related to the civil inquiry. a lot of moving parts here, maria. but effectively, the focus right now, will be on the criminal case, not the civil case, which is essentially
. everybody agrees on something used up all the resources on the sip. something caused the sip to shut down. nyse, do not blame us. nasdaq this partly a problem with arca trying to connect to our system. a little bit of a fight going on. bottom line, the sec call add meet are for september 12th. you'll see, bill, a lot of pressure on all of the exchanges. on the nyse and nasdaq to upgrade their ability to test systems to more modern standards. for uniform standards right now there's just a best practices standard that goes on, and i think you're going to see pressure. here's the problem. these exchanges are in terrible shape now. they're cutting staff. they're not adding staff. the sec is going to put a lot of pressure on these exchanges to improve technology, to improve technology testing, at a time when they're laying off people. i think that's going to cause a lot of pressure on them, and even more pressure towards consolidation. it's an ongoing story. more to say in the next couple days. back to you. >> clarify, bob, for those who don't know. arca, new york stock exchange's all electron
-packard numbers. revenue looks tad light. but as you saw, the stock is certainly active. paul is with us. paul, what's your reaction to these numbers? paul meeks, are you with us? >> pardon me, yes, i am. can you hear me? >> yes. >> the numbers look to be in line. no surprise to me. i actually thought they might have beaten a little bit. but the problem with this company is the stock troughed last fall at 11 bucks, went up to 30 on really a restructuring that cut costs but didn't show any revenue growth. and so, if you're someone at almost any price that's going to get interested in this name, you have to see a resumption of revenue growth, and i don't see that, not this fiscal year or next. >> bottom line, paul, would you put money to work in hewlett-packard stock right here? >> i would not. i wouldn't even buy it if it hit 20, it would have to be substantially below 20. >> all right. nathan, let me get over to you and talk about this market. the dow down 105 points today. was this some anticipation about the earnings deceleration we're seeing, or something else? >> no, i think it's that. tha
, and it was followed by a big break in the market. look, i used don't want to be caught flat-footed when we see the changing of the guard there, too. >> yeah. >> ralph, what about you? >> well, you really -- yeah, you really can't predict black swans, although i appreciate that. but it is out there. and as far as i'm concerned, i think i mentioned it before, i think you go through your portfolio. you know, bulls make money, bears make money, pigs get slaughtered. we have a lot of profits out there. and i think it's prude own that you take some. that's all i'm saying. personally i've been doing that for the last two weeks. >> so let me ask you guys this. what about the tapering? ralph, do you think the tapering begins next month? >> you know, that's really not in my belly wick. i think the market is saying it will come fairly soon. >> what about you, jack? >> no, i don't think so, maria. i agree with steve liesman saying earlier. the numbers don't justify it. the feds are coming out and saying the numbers don't justify it. we're data dependent. unless we see great numbers over the next month or
for joining us for the entire hour, terry duffy. >> thank you. >> joining us now to further break down the markets is michael santoli, and michael tower, and mike. mike times three. mike, let me kick off with you, in terms of the fed, we've seen the economic data. can it be possible the fed begins not tightening, but the tapering next month? >> i think it is possible. but i do think we're at a point where we're susceptible to any dovish noises here. i think the fed wants to calm the markets a little bit. the markets have overanticipated this a couple of times. i don't think the economic data has been unequivocal, that would say september's a lock. obviously, the august job numbers will matter here. i don't really think the fed wants to see the treasury market get that far ahead of itself and pricing in not just the end of qe but just a large increase in interest rates before the fed feels the economy can handle it. >> what's your betting, terry? >> it's hard to say, maria. there's so much uncertainty out there. and it also depends, also, what will happen with the next treasury secretar
Search Results 0 to 21 of about 22